The Financial Conduct Authority (FCA) has imposed a fine of £6,470,600 on ADM Investor Services International Limited (ADMISI) for serious financial crime control deficiencies. The FCA raised concerns regarding ADMISI's anti-money laundering (AML) systems in 2014, particularly noting the absence of a formal customer risk classification process.
The German financial regulator, BaFin, is set to deploy a special monitor to oversee operations at Deutsche Bank (DBKGn.DE), according to sources cited in a report by German daily Handelsblatt. This move comes in response to ongoing issues at Deutsche Bank's subsidiary, Postbank.
The Securities and Exchange Commission (SEC) has filed charges against Newell Brands Inc., a consumer products company, and its former CEO, Michael Polk. The charges stem from allegations that the company and its former CEO engaged in misleading practices related to Newell's core sales growth figures. Both Newell and Polk have opted to settle the charges with the SEC.
The Securities and Exchange Commission (SEC) has announced that it has reached a settlement with D. E. Shaw & Co., L.P., a registered investment adviser based in New York. The charges stem from allegations that D. E. Shaw violated whistleblower protection rules by requiring employees to sign agreements that prohibited the disclosure of confidential corporate information to third parties without exceptions for potential SEC whistleblowers. The firm also required departing employees to sign releases confirming that they had not filed any complaints with government agencies to receive deferred compensation. Under the terms of the settlement, D. E. Shaw has agreed to pay $10 million to resolve the charges.
Boeing has reached an $8.1 million settlement with the U.S. Department of Justice to resolve allegations of non-compliance with contractual obligations in the production of V-22 Osprey aircraft. The settlement, which addresses claims of violations of the False Claims Act, reflects the company's commitment to addressing these issues and ensuring adherence to contractual specifications.
Charlotte-based Albemarle Corporation, a leading global specialty chemicals company, has reached a significant settlement with the Securities and Exchange Commission (SEC), agreeing to pay more than $103.6 million. The settlement comes in response to charges filed by the SEC, alleging violations of the anti-bribery, recordkeeping, and internal accounting controls provisions of the Foreign Corrupt Practices Act (FCPA).
The Securities and Exchange Commission (SEC) has taken decisive action against a group of firms, announcing charges against ten entities comprising five broker-dealers, three dually registered broker-dealers and investment advisers, and two affiliated investment advisers. These firms have been accused of widespread and long-standing failures to adequately maintain and preserve electronic communications, resulting in violations of recordkeeping provisions under federal securities laws. In response to the charges, the firms have collectively agreed to pay substantial penalties amounting to $79 million. Furthermore, they have initiated comprehensive enhancements to their compliance policies and procedures to address the deficiencies identified.